Infinity Fincorp Bags $35 Mn Funding Round Led By Jungle

Infinity Fincorp, a non-banking finance company (NBFC), has raised $15 million (around Rs 130 crore) in funding. This includes a $10 million equity investment from Jungle Ventures and $5 million from Archerman Capital.

The company said this is the second round of funding, following the first infusion in March last year from the same investors. The second round was delayed due to pending approvals from the Reserve Bank of India, which were finally received in October 2024.

The NBFC raised $35 million in equity funding in this round. After this funding, Infinity Fincorp's valuation rose to approximately $150 million.

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Shrikant Ravalkar, founder, MD & CEO of Infinity, said, “This fundraise significantly bolsters our capital position with Infinity’s net worth at ₹530 crore and capital adequacy at 62 per cent as against a regulatory requirement of 15 per cent.”

“We remain committed to serving the vast untapped MSME landscape of India which has a potential credit gap of ₹78 lakh crore. With our in-house capabilities to serve the Indian MSMEs and access to growth capital from our marquee investors, we will deepen our footprint and accelerate our mission of extending credit to MSMEs across the country, " he added.

The company ended 2023-24 with a net profit of Rs 25.7 crore and total revenue of Rs 143.7 crore. Ravalkar mentioned that his goal is to grow the book to Rs 4,000 crore by March 2027 and eventually list on the stock exchanges in 2027-28.

About Infinity Fincorp

Founded in 2016 by Shrikant Ravalkar, Mumbai-based Infinity Fincorp offers credit access to businesses in Tier III and IV cities. As of November 2024, it has crossed ₹1,000 crore in Assets Under Management (AUM), marking a 33% growth since March 2024.